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What's News: Business & Finance — WSJ

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (April 7, 2020).

Key parts of the U.S. debt markets are functioning again, a sign the Federal Reserve's extraordinary steps are easing a credit-market crunch.

U.S. stocks rallied, with the Dow industrials surging 1627.46 points, or 7.7%, and the Nasdaq and S&P 500 posting gains of 7.3% and 7%, respectively.

Trump said the government would buy nearly 167 million masks from 3M over the next three months, resolving a dispute with the firm.

A growing scarcity of oil-storage space is driving some of the biggest crude producers to negotiate a truce in the Saudi-Russian fight over market share.

Auto insurers Allstate and American Family are sending refunds to policyholders, citing a sharp drop in accident claims as people hunker down at home.

The committee that helped broker a $13.5 billion settlement for California wildfire victims in PG&E's bankruptcy case said it no longer supports the current deal.

JPMorgan's Dimon said the bank can handle what he expects to be a "bad recession" brought on by the coronavirus crisis.

Samsung Electronics delivered a forecast for first-quarter operating profit that exceeded analysts' expectations.

Airbnb said it is raising $1 billion in funding from Silver Lake and Sixth Street Partners, as the firm sees a global hit to its business.

 

(END) Dow Jones Newswires

April 07, 2020 02:47 ET (06:47 GMT)

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